Welcome to our dedicated page for Usd Partners Lp news (Ticker: USDP), a resource for investors and traders seeking the latest updates and insights on Usd Partners Lp stock.
USD Partners LP (USDP) was a fee-based master limited partnership focused on midstream infrastructure and logistics for crude oil, biofuels and other energy-related products. Over time, its news flow shifted from routine financial reporting toward asset sales, credit facility developments and, ultimately, disclosures about its wind-down and liquidation.
Earlier news items from the Partnership highlighted its business model of generating operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies, refiners and marketers. These updates often covered quarterly and annual unaudited financial statements and OTC disclosure statements, which the Partnership made available through its investor materials.
As its financial and capital structure challenges emerged, news releases began to focus on the forbearance agreement with lenders under its credit agreement, requirements tied to the sale of key assets such as the Hardisty Rail Terminal, and the sale of the Stroud rail terminal. These announcements described how sale proceeds were applied to repay borrowings and manage obligations under the revolving credit facility.
Later corporate updates documented the completion of the sale of the Hardisty Rail Terminal, the Partnership’s last remaining operating asset, and the transition to a wind-down and liquidation process. News items also addressed the expected termination of the revolving credit facility, the anticipated write-off of remaining debt, the decision to cease operations, and the Partnership’s request to halt trading of its equity. The Partnership further disclosed potential tax implications for unitholders arising from cancellation of indebtedness income and indicated that unitholders would not receive payments or distributions upon wind down.
This news page serves as an archive of USD Partners LP’s public communications, from its operating period as a midstream logistics partnership through its restructuring, asset sales and eventual cessation of operations.
USD Partners (OTC: USDP) announced it sold its last operating asset, ceased operations and is winding down and liquidating the partnership.
The partnership submitted a request to FINRA to halt trading of remaining equity and expects completion of wind‑down actions as early as January 1, 2026, although no firm date is set. Unitholders will not receive any payments or distributions on wind down.
The partnership cannot fully repay remaining indebtedness and warned it may recognize cancellation of indebtedness income (CODI) for 2025 that is allocable to unitholders and could create tax obligations exceeding the units' value. Final Schedule K‑1 (Form 1065) will be provided to unitholders in March 2026.
USD Partners LP (OTC: USDP) has announced the completion of the sale of its Hardisty Rail Terminal, which was the Partnership's final operating asset. The sale was mandated by lenders under the Partnership's revolving credit facility as a condition for entering into a forbearance agreement.
The sale process was conducted by an independent investment bank approved by the facility lenders. The forbearance agreement was established due to the Partnership's failure to meet certain milestones under the revolving credit facility, with lenders agreeing to temporarily withhold exercising their rights or remedies arising from these defaults.
USD Partners LP (OTC: USDP) has announced the publication of its annual unaudited financial statements and OTC Disclosure Statement for the fiscal year ended December 31, 2024. The company has made these financial documents accessible to investors and stakeholders through their official website at www.usdpartners.com, where they can be found under the 'Financials' section within the 'Investors' tab.
USD Partners LP (OTC: USDP) has announced plans to sell its final operating asset, the Hardisty Rail Terminal, by mid-April 2025. This sale is mandated by lenders under a forbearance agreement due to the Partnership's failure to meet certain credit facility milestones.
The sale process is being conducted by an independent investment bank and requires third-party consents and consideration of rights of first refusal. The transaction has been approved by an independent director acting as Chief Restructuring Officer and by the majority unitholder.
Following the sale and use of proceeds, USDP will have divested all its assets but will still have substantial outstanding borrowings. The lenders are expected to terminate the credit facility and write off the remaining debt balance, after which the Partnership plans to initiate wind-down or dissolution procedures.
USD Partners LP (OTC: USDP) has announced the release of its quarterly unaudited financial statements and OTC Disclosure Statement for the quarter ended September 30, 2024. The company has made these financial documents accessible to the public through their website at www.usdpartners.com, where they can be found under the 'Financials' section of the 'Investors' tab.
Texas Deepwater Partners (TDWP) has closed a deal with Summit Next Gen to sell 60 acres on the Houston Ship Channel for constructing the first at-scale ethanol-to-jet fuel (ETJ) facility producing sustainable aviation fuel (SAF). Summit Next Gen also purchased an exclusive option for an additional 40 acres for future expansion. TDWP will build, own, and operate a deepwater dock to support Summit's plant operations, underpinned by a long-term terminal services agreement.
The partnership aims to contribute significantly to the growing global SAF demand, with the facility expected to reach FID by mid-2025 and commence operations in 2027. This collaboration marks TDWP's first step in developing an energy transition hub, positioning the company to support sustainable industrial development in the renewable energy sector.
USD Partners LP (OTC: USDP) has released its quarterly unaudited financial statements and OTC Disclosure Statement for the quarter ended June 30, 2024. The Partnership has made these documents available on its official website, www.usdpartners.com. Investors and interested parties can access the financial information by navigating to the 'Investors' tab and selecting the 'Financials' sub-tab. This release of financial data is a standard practice for publicly traded companies, providing transparency and up-to-date information to shareholders and potential investors.
USD Partners (USDP) announced a Forbearance Agreement with its lenders on June 21, 2024, to address events of default under its Credit Agreement. This agreement prevents lenders from exercising their rights or remedies until November 1, 2024, which can be extended to December 30, 2024, and potentially to January 31, 2025.
As part of the agreement, USD Partners must sell its Hardisty Rail Terminal by December 30, 2024, and adhere to an approved operating budget, repaying borrowings with excess cash. The Hardisty Rail Terminal is supported by a long-term contract with an investment-grade customer. Notably, the DRU, owned by Gibson Energy and US Development Group, is not included in the sale.
USD Partners LP (USDP) released its quarterly unaudited financial statements and OTC Disclosure Statement for the quarter ended March 31, 2024. The financial and disclosure statements can be accessed on the company's website.
USD Partners LP (USDP) announced the sale of the Stroud rail terminal to a third party buyer for cash, using the proceeds to repay borrowings and transaction expenses. As of May 2, 2024, the Partnership had approximately $169.9 million in borrowings outstanding under its credit agreement.